Hikal Ltd

Hikal Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Hikal Ltd

₹ 410 2.01%
21 May 10:08 a.m.
hikal.com BSE: 524735 NSE: HIKAL
About

Hikal is a partner to companies in the Pharmaceuticals, Crop Protection, and Specialty Chemicals industry. The company is in the business of supplying research services, active ingredients and intermediates for its customers. Hikal's manufacturing facilities have been inspected and approved by leading multinational companies in the Crop protection and Pharmaceutical sectors. The Crop protection facilities are located at Taloja and Mahad {Maharashtra). The Pharmaceutical manufacturing facilities are situated in Jigani (Bengaluru) and Panoli (Gujarat). Hikal's R & D facilities are located in Pune.[1]

Key Points

Business Segments
1. Pharmaceuticals [1]: Active pharmaceutical ingredients (APIs), intermediates and advanced intermediates.
2. CDMO: ** Company has a pipeline of 13-14 products in various development stages, with 2 expected to be launched by FY26. The company focuses on NCEs and advanced intermediates, attracting growing interest from innovator companies.[2][3]
3. Crop Protection: Active ingredients, advanced intermediates, intermediates. Custom Synthesis and Contract Manufacturing of Agrochemicals, Intermediates and Specialty Chemicals. (Personal care products, Battery chemicals, and home care)
4. Research & Technology: Process development, new product development, contract and custom development. It caters to the following Industries: Pharmaceutical (Generics & Custom Manufacturing), Biotech, Animal Healthcare, Crop Protection, Specialty Chemicals and Biocides, and Food. [4] [5]

Website BSE NSE
  • Market Cap ₹ 5,061 Cr.
  • Current Price ₹ 410
  • High / Low ₹ 465 / 267
  • Stock P/E 55.8
  • Book Value ₹ 102
  • Dividend Yield 0.30 %
  • ROCE 9.87 %
  • ROE 7.41 %
  • Face Value ₹ 2.00
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Pros

  • Company has been maintaining a healthy dividend payout of 19.7%

Cons

  • Stock is trading at 3.93 times its book value
  • The company has delivered a poor sales growth of 4.29% over past five years.
  • Company has a low return on equity of 6.83% over last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Pharmaceuticals Industry: Pharmaceuticals - Indian - Bulk Drugs

Part of BSE Healthcare BSE SmallCap BSE Allcap Nifty Microcap 250 Nifty Total Market

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025
502 379 559 540 545 388 435 448 514 407 453 448 552
441 356 489 466 457 338 377 383 420 349 378 376 429
Operating Profit 61 23 70 75 88 50 58 65 94 58 75 72 123
OPM % 12% 6% 12% 14% 16% 13% 13% 14% 18% 14% 17% 16% 22%
0 3 1 3 0 1 1 0 0 0 0 4 0
Interest 8 11 11 13 13 14 13 14 15 20 19 19 18
Depreciation 24 26 27 28 27 28 29 29 32 32 32 33 38
Profit before tax 29 -12 33 36 49 10 17 22 47 7 25 24 68
Tax % 28% -25% 24% 26% 26% 29% 25% 25% 28% 26% 26% 28% 26%
21 -9 25 26 36 7 13 16 34 5 18 17 50
EPS in Rs 1.68 -0.72 2.01 2.14 2.92 0.56 1.02 1.31 2.75 0.41 1.48 1.39 4.07
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
829 872 926 1,014 1,296 1,590 1,507 1,720 1,943 2,023 1,785 1,860
642 689 745 813 1,054 1,291 1,234 1,398 1,602 1,765 1,518 1,531
Operating Profit 187 182 181 201 242 298 273 323 341 258 267 328
OPM % 23% 21% 20% 20% 19% 19% 18% 19% 18% 13% 15% 18%
34 2 2 -3 4 2 -12 5 5 5 2 5
Interest 68 60 62 48 49 58 52 36 31 48 56 75
Depreciation 55 64 67 69 86 93 82 85 96 109 118 134
Profit before tax 98 60 53 80 112 149 127 206 219 105 96 124
Tax % 35% 32% 23% 16% 31% 31% 33% 36% 27% 26% 27% 27%
64 40 41 68 77 103 84 133 160 78 70 91
EPS in Rs 5.17 3.28 3.34 5.49 6.26 8.36 6.85 10.80 13.02 6.36 5.64 7.36
Dividend Payout % 12% 20% 20% 15% 13% 14% 18% 19% 12% 19% 21% 19%
Compounded Sales Growth
10 Years: 8%
5 Years: 4%
3 Years: -1%
TTM: 4%
Compounded Profit Growth
10 Years: 8%
5 Years: -1%
3 Years: -17%
TTM: 31%
Stock Price CAGR
10 Years: 16%
5 Years: 28%
3 Years: 2%
1 Year: 37%
Return on Equity
10 Years: 11%
5 Years: 10%
3 Years: 7%
Last Year: 7%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Equity Capital 16 16 16 16 16 25 25 25 25 25 25 25
Reserves 488 516 547 589 653 732 792 909 1,043 1,109 1,163 1,238
546 547 505 598 635 661 646 610 675 748 818 765
219 212 206 177 237 268 306 370 470 504 482 502
Total Liabilities 1,270 1,292 1,275 1,379 1,542 1,686 1,768 1,913 2,213 2,385 2,487 2,529
644 639 623 668 634 713 735 713 879 948 1,071 1,364
CWIP 61 62 66 63 118 79 161 254 295 412 414 121
Investments 3 3 3 4 3 1 1 1 11 5 5 10
562 588 583 645 788 893 871 946 1,028 1,020 997 1,034
Total Assets 1,270 1,292 1,275 1,379 1,542 1,686 1,768 1,913 2,213 2,385 2,487 2,529

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
154 102 186 163 139 186 285 229 294 315 187 280
-23 -43 -64 -102 -110 -125 -164 -156 -284 -292 -174 -136
-124 -69 -124 -63 -25 -55 -101 -97 -6 -8 -27 -144
Net Cash Flow 7 -10 -2 -2 4 6 20 -24 4 15 -14 0

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Debtor Days 39 54 44 92 81 80 82 103 82 80 113 103
Inventory Days 302 268 229 189 158 156 147 107 121 104 134 146
Days Payable 127 117 101 93 86 68 95 92 91 103 123 133
Cash Conversion Cycle 214 205 173 188 153 168 135 118 112 81 124 116
Working Capital Days 95 84 97 126 107 114 90 113 98 86 119 114
ROCE % 16% 11% 11% 12% 13% 15% 14% 16% 15% 8% 8% 10%

Shareholding Pattern

Numbers in percentages

Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025
68.77% 68.77% 68.82% 68.85% 68.85% 68.85% 68.85% 68.85% 68.85% 68.85% 68.85% 68.85%
3.91% 4.27% 4.40% 4.56% 4.57% 4.81% 6.14% 6.55% 6.66% 6.78% 6.06% 5.70%
0.89% 1.37% 1.57% 2.18% 2.78% 3.11% 3.15% 3.53% 3.17% 3.58% 3.48% 3.80%
26.43% 25.58% 25.20% 24.40% 23.79% 23.22% 21.85% 21.06% 21.32% 20.79% 21.61% 21.65%
No. of Shareholders 79,10578,50075,78075,16775,11076,12674,65771,84070,97871,91271,80168,907

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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